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Base Metals News

Brazil nickel/cobalt project advances to BFS stage

By: Mariaan Webb     18th February 2021 A bankable feasibility study (BFS) at the Piauí nickel project (PNP), in Brazil, is under way, privately held Brazilian Nickel has announced. The BFS is the next stage in the development of PNP, which will produce an average of 25 000 t/y of nickel and 900 t/y of cobalt. Engineering group SNC... 

First Quantum sees no 'contagion' risk in Zambia after Mopani deal – COO

By: Reuters     18th February 2021 First Quantum Minerals sees no risk of nationalization in Zambia following the sale last month of Mopani Copper Mines to the country's mining investment arm ZCCM-IH, the Canadian miner's chief operating officer, Tristan Pascall, said on Wednesday. “We don’t see any contagion or any element or... 

Governments from Mongolia to Mali seek to reopen mining deals

By: Reuters     18th February 2021 Some resource-rich developing countries are seeking to rewrite mining contracts and accelerate dividend payouts, which can take years to materialize under deals that experts said are tilted in companies' favor. Any move to renegotiate agreements will trigger pushback by miners wary of threats to... 

Oz profits increase on higher gold output and prices

By: Esmarie Iannucci     18th February 2021 Copper/gold miner Oz Minerals has reported a near 50% increase in underlying net profits after tax for the 2020 financial year, while net revenues increased by 235%. “2020 saw the Oz Minerals team rise to the challenges and deliver a strong operating and financial performance, continue to grow... 

Coal to China set to continue while Asian giant not buying from Australia – Glencore 

By: Martin Creamer     17th February 2021 The export of South African coal to China is poised to continue while China decides not to buy Australian coal, Glencore CEO Ivan Glasenberg said during this week’s Glencore media conference. “China still imports round about 185-million tons to 190-million tons of seaborne coal. They like to... 

Coal to China set to continue while Asian giant not buying from Australia – Glencore
Photo by Bloomberg
Glencore heading for a future without any coal production.

Eramet sees higher core earnings this year after pandemic hit

By: Reuters     17th February 2021 French mining group Eramet said on Tuesday it expected a rebound in core earnings this year after starting to recover in recent months from severe disruption caused by the Covid-19 pandemic. The company reported a net loss of €675-million for 2020, while earnings before interest, tax,... 

Ivanhoe’s Ivanplats arranging $420m project financing 

By: Mariaan Webb     17th February 2021 Ivanplats, the South African subsidiary of Canadian miner Ivanhoe Mines, is arranging project-level financing of up to $420-million for the development of its Platreef project, in Limpopo. Ivanhoe says Ivanplats has signed a nonbinding term sheet with Orion Mine Finance for a $300-million... 

Ivanhoe’s Ivanplats arranging $420m project financing

Court challenge to PolyMet water quality permit dismissed

By: Mariaan Webb     17th February 2021 A federal judge on Tuesday dismissed a challenge to the US Environmental Protection Agency’s (EPA’s) oversight of a water quality permit issued to PolyMet Mining, which is developing the NorthMet copper/nickel/palladium project in north-eastern Minnesota. The challenge, filed in September 2019... 

Court challenge to PolyMet water quality permit dismissed

Rio Tinto and Hydro to close Netherlands anode plant

By: Creamer Media Reporter      16th February 2021 The Aluchemie anode production facility, in Netherlands, will be closed at the end of the year, partners Rio Tinto and Hydro announced on Tuesday, citing its weak competitive position and challenging market conditions. The plant, opened in the mid-1960s, employs 220 employees and produces 216... 

Rio Tinto and Hydro to close Netherlands anode plant

Nagle expresses firm belief in Glencore’s coal-depleting climate change strategy 

By: Martin Creamer     16th February 2021 Firm belief in the climate change strategy being embarked upon by diversified mining and marketing company Glencore was expressed on Tuesday by incoming Glencore CEO Gary Nagle, Outgoing Glencore CEO Ivan Glasenberg announced in December that he would be handing over the reins of the global... 

Nagle expresses firm belief in Glencore’s coal-depleting climate change strategy
Gary Nagle

ARM expects headline earnings to more than double

By: Donna Slater     16th February 2021 JSE-listed diversified miner African Rainbow Minerals (ARM) reports that its headline earnings for the first half of its 2021 financial year are expected to increase by between 129% and 138%, to between R4.93-billion and R5.12-billion. This compares with the R2.15-billion in headline earnings... 

First day of trading for Cornish Metals on Aim

By: Creamer Media Reporter      16th February 2021 Shares of mineral exploration and development company Cornish Metals started trading on London’s Aim on Tuesday morning. The company, which focuses on projects in Cornwall, UK, raised £8.2-million. 

Nornickel 2020 profit sinks 39% as $2bn set aside to cover fuel-spill fine

By: Reuters     16th February 2021 Russia's Norilsk Nickel said on Tuesday its net profit sank by 39% in 2020 after it set aside $2-billion to cover an environmental damage claim after a major fuel spill in the Arctic. Nornickel, the world's largest producer of palladium and a leading producer of nickel, has been fined $2-billion... 

Congo averts recession in 2020 thanks to mining sector strength

By: Reuters     16th February 2021 GOMA, Democratic Republic of Congo – Democratic Republic of Congo's economy averted an expected pandemic-induced recession in 2020 to grow 0.8% on the back of strong mining activity, a central bank official said on Tuesday. Growth is expected to rise to 3.2% this year, the official, Plante... 

Ford becomes first US automaker to join responsible mining initiative

By: Creamer Media Reporter      16th February 2021 Ford has become the first US automaker to join the Initiative for Responsible Mining Assurance (Irma), a move which the company says is another step in realising its aspiration to responsibly source all raw materials used within its vehicles globally. Ford has also committed to nearly double its... 

Glencore ready to support transition to low-carbon economy – Glasenberg 

By: Martin Creamer     16th February 2021 Diversified mining and marketing company Glencore is ready to support the transition to a low-carbon economy, CEO Ivan Glasenberg said on Tuesday when the company reported finishing 2020 with earnings before interest tax depreciation and amortisation (Ebitda) of $11.6-billion, Covid-19... 

Glencore ready to support transition to low-carbon economy – Glasenberg
Glencore CEO Ivan Glasenberg

Spence continues to ramp up - BHP

By: Esmarie Iannucci     16th February 2021 The expanded Spence copper project, in Chile, is expected to hit its production stride within the next 12 months. Miner BHP on Tuesday reported that the Spence Growth Option had achieved its first copper concentrate production in December of last year, on schedule and on budget, with first... 

Spence continues to ramp up - BHP
The Spence operation, in Chile

Copper at highest since 2012 as global equities extend gains

By: Bloomberg     16th February 2021 Copper climbed to the highest level since 2012 as a risk-on mood across global markets helped to lift equities and put pressure on the dollar. Prices have soared on optimism that the use of coronavirus vaccines will aid a rebound in global growth. Prices climbed 5.3% last week on the London... 

Copper at highest since 2012 as global equities extend gains

Rio Tinto reaches new power agreement for Iceland smelter

By: Creamer Media Reporter      15th February 2021 Diversified major Rio Tinto on Monday announced an amended power contract that would allow the ISAL aluminium smelter, in Iceland, to continue operating with an improved competitive position. The agreement with power supplier Landsvirkjun would deliver a more competitive power price and energy... 

Rio Tinto reaches new power agreement for Iceland smelter

Nornickel studies use of LNG in mining dump trucks

By: Creamer Media Reporter      15th February 2021 Russian mining major Norilsk Nickel (Nornickel) is considering re-equipping its dump trucks for dual-fuel operation, using liquefied natural gas (LNG) in a move that will not only reduce environmental risks, but also lower production costs. A pilot project is under way to investigate the... 

Nornickel studies use of LNG in mining dump trucks

Aeris increases copper hedging

By: Esmarie Iannucci     15th February 2021 ASX-listed Aeris Resources has announced additional copper hedging for its Tritton operation, in New South Wales. The company on Monday told shareholders that it had entered into further unsecured Australian dollar copper hedges with Macquarie Bank, allowing the miner to participate in a copper... 

Orion Minerals takes option over Okiep database

By: Esmarie Iannucci     15th February 2021 Copper developer Orion Minerals has secured an option to acquire the entire furnished head office and database of the O’Okiep Copper Company, in South Africa, for R25-million, allowing the company to fast-track exploration and evaluation of its Okiep copper complex (OCC). The OCC transaction... 

Azure reviews Mexican assets

By: Esmarie Iannucci     15th February 2021 Junior Azure Minerals has started a strategic review on its Mexican base metals projects, including its Alacrán silver/gold/copper project, and its Oposura zinc/lead/silver project. The company told shareholders on Monday that the options under review include a full or partial sale, a demerger,... 

Botswana names Canadian firm as preferred bidder for copper mine

By: Bloomberg     14th February 2021 Botswana picked Premium Nickel Resources as the preferred bidder for its shuttered copper mining group BCL, according to Mmetla Masire, the permanent secretary for the Ministry of Mineral Resources, Green Technology and Energy Security. The privately owned Canadian minerals investor has six... 

US judge will not stop land transfer for Rio Tinto mine in Arizona

By: Reuters     14th February 2021 A federal judge on Friday said he would not stop the US Forest Service from transferring government-owned land in Arizona to Rio Tinto for its Resolution Copper project, denying a request from Native Americans who said the land has religious and cultural import. The judge's decision is likely to... 

US judge will not stop land transfer for Rio Tinto mine in Arizona

Mitsubishi Materials completes Chile's Mantoverde copper mine stake deal

By: Reuters     12th February 2021 Japan's Mitsubishi Materials Corp said on Friday it had completed its purchase of a 30% stake in Chile's Mantoverde copper mine from Mantos Copper for $275-million. Japan's third-biggest copper smelter also said $520-million in project finance had been completed. The $275-million investment... 

Taseko moves ahead with Florence project

By: Mariaan Webb     12th February 2021 Dual-listed Taseko Mines is moving forward with final design engineering of the commercial production facility at its Florence copper project, in Arizona, announcing this week that it has secured the majority of the funding needed for the project. Taseko has completed an offering of $400-million... 

Gold Fields ups stake in Peru explorer

By: Mariaan Webb     12th February 2021 Bullion major Gold Fields has invested another C$2.9-million in a Canadian company, which owns copper/gold/silver exploration assets in the Peruvian Andes. Through its Gold Fields Nazca Holdings (GFNH) indirect subsidiary, Gold Fields purchased 5.81-million common shares in TSX-V-listed Chakana... 

Challenges need to be met to further development

By: Mamaili Mamaila     12th February 2021 While Canada’s mineral potential is well recognised, it has several challenges that need to be addressed to capitalise on the resource development opportunity, says North American mine developer Fortune Minerals president and CEO Robin Goad. 

Challenges need to be met to further development
GOVERNANCE GOALS Governments in Canada, particularly those provinces responsible for resource development, need to be more aligned with national objectives, priorities and policies

Canada’s potential growth backed by non-traditional demand

By: Mamaili Mamaila     12th February 2021 Canada is the second largest country in the world and has vast uninhabited regions with diverse geology, hosting one of the most prolific mineral endowments on the planet, says North American mine developer Fortune Minerals president and CEO Robin Goad. 

Canada’s potential growth backed by non-traditional demand
GETTING THERE The NICO Project (pictured above) is a near shovel-ready, vertically integrated primary cobalt deposit with a 1.1-million-ounce in-situ gold co-product

Deep-South to start drilling at Namibian project

By: Simone Liedtke     11th February 2021 Mineral exploration and development company Deep-South Resources has started drilling at its Haib copper project, in Namibia. Namibian drilling contractor Ferrodrill has delivered the first drill. 

Horizon strikes out on its own at Nimbus

By: Esmarie Iannucci     11th February 2021 Gold developer Horizon Minerals has taken the decision to advance its Nimbus silver/zinc project, in Western Australia, following a strategic review. The company told shareholders that while several acquisition and earn-in proposals had been received and carefully considered for the Nimbus... 

Qld HPA project a step closer

By: Esmarie Iannucci     11th February 2021 The Queensland Coordinator General has approved ASX-listed Alpha HPA’s plans for a A$300-million high purity alumina (HPA) plant which could create120 jobs. A previously completed definitive feasibility study estimated that the project could generate free annual cash flows of A$280-million a... 

Vision Blue helping world to achieve green dream with high-return prospects for investors  

By: Martin Creamer     10th February 2021 The world’s energy transition away from fossil fuels is a phenomenon that is not dependent on any assumptions about gross domestic product (GDP) growth or countries urbanising or industrialising. It is a phenomenon driven by international consensus that the carbon footprint of the world has to be... 

Vision Blue helping world to achieve green dream with high-return prospects for investors
Sir Mick Davis interviewed by Mining Weekly’s Martin Creamer about Vision Blue Resources. Video: Darlene Creamer.

Copper traders hunt for more good news after longest rally slows

By: Bloomberg     10th February 2021 Copper is on the cusp of its longest rally on record, but the metal seen as a global economic bellwether has recently stumbled -- and traders are watching Washington and Beijing for clues to the next leg up. Traders and leading investors say the market needs more good news before prices can rip... 

Possible impact of Myanmar coup on China's metal and rare earth supply

By: Reuters     10th February 2021 Myanmar's military coup and declaration of a state of emergency has sparked concern in neighbouring China over metal and mineral supplies amid already high tin, copper and rare earth prices. Below is a description of trade flows from Myanmar to China, the world's top metals consumer, with... 

Orion Minerals declares Jorc resource at Okiep

By: Esmarie Iannucci     10th February 2021 Copper developer Orion Minerals has reported a maiden Joint Ore Reserves Committee (Jorc) compliant resource of 8.9-million tonnes containing some 122 000 t of copper at the Okiep copper complex, in South Africa. The ASX-listed miner noted that the mineral resource estimate included a measured... 

Colombia to auction mining areas with potential copper, gold

By: Reuters     10th February 2021 Mining companies interested in bidding for potential exploration and development permissions in Colombia should register from February 11 for multiple rounds this year, the government said on Tuesday, as it continues efforts to diversify mineral output. The Andean country has long hailed its... 

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